If you’re running a small operation, you’re more in need than ever to keep track of everything you own. You have limited resources, after all, and you’ve had a lot of money sunk into everything currently in use in the office or the storeroom.
But of course, it can be hard to properly keep track of all your assets. You’ve got a lot of responsibilities on your plate, and you can’t keep an eye out at all times. At the same time, your employees are going to be using them on a daily basis, so they can go walkabout from time to time, and there’s no guarantee the ledger will always be signed to keep you updated on where they are!
Which is why it’s key to change tactic – there’s plenty of other ways to keep track of your assets, and a lot of them are far more reliable for your time and money. So, without further ado, here are some such ideas to get you started.
Know What’s Valuable
Not all assets are created equal, after all. You’re going to need to prioritize some assets over the others, simply because they’re worth more to you, and your business has a lot more use of them. In the business world, some assets are very much disposable, and it’s working out which ones are which that’s key here. Be sure to make this your first task, so you’re not wasting time keeping track of things that simply don’t deserve your time and attention!
Big assets, such as the office you work in, the cars you use to get to and from work, and any digital device you know is quite pricey, all require a bit of more time and care when it comes to a tracking system.
Use a Spreadsheet for Software
Computer programs make up a lot of the modern business world, so you’re definitely going to want to keep an eye on what you’re using and how it’s working for you.
If you want to take inventory of the amount of software you use, you’re going to need to use a spreadsheet or similar program to keep track of things. If you can add new software and applications into a spreadsheet, unit by unit, it’s going to be a lot easier to add in dates and ways of use at the same time.
Simply put, a spreadsheet is a good way to just lay things out before you, and see what you get out of the software your company uses, as well as what will need updating and when.
Take Physical Inventory
Of course, you’re going to have to take physical inventory every once in a while. As a small business just starting out, you might want to conduct one every 6 months or so. But once you get used to owning and operating your own business, you can change this schedule to every 1 or 2 years.
How do you take inventory? Head into your stockroom. Hopefully, you have a list of all the assets you started with, and now you can compare the worth of that list with the list you're going to create now. You can use a computer program to help you out, or you can just count things up by hand and clipboard!
You’ll need to take stock of hardware too. If your employees are on a constant cycle of use with tablets and smartphones, or e-readers and company laptops, be sure to install a system of mobile device management on these ‘endpoints’.
Install a GPS into Fleet Vehicles
And finally, if your company is lucky enough to be using its own fleet to get from A to B, make sure you keep track of these vehicles with onboard GPS. If you can install one into every single car that’s on your business tab, you’ll be able to see what’s in the garage and what isn’t.
At the same time, you’ll also be able to watch where a car goes – if you have a particularly errant employee, using an onboard GPS to keep track of their position on a five-minute cycle will be invaluable to you.
So, Are You Tracking Your Assets Well?
If you’re out to keep track of your business assets, good on you! It means you’re a responsible business owner, and that’s crucial at the small, first stages. Keep going with habits like these and you’re likely to never lose out in the business world.